COMMERCIAL.

Otago Daily Times, Issue 17215, 18 January 1918, Page 4

COMMERCIAL.

AUSTRALIAN MARKETS. Prua Association—By Telegii-pli— Copyrigfek. Australian and N.Z. Cable Association. SYDNEY, January 17. (Received Jan. 17, at 9 p.m.) Oats: Algerian feeding, 2s 9d to 3s; milling, 3s to 3s Id; Tasmanian, 3s 10s to 3s lid. Maize- 5s 6d. Potatoes: £7 10s to £9. Onions: £12. ADELAIDE, January 17. (Received Jan. 17, at 9 p.m.) Oats: 2s 4d to 2s sd. PRICE OF μ-as. (Pib Unitbd PCBSB, Association.) WELLINGTON, January 17. Sir Thomas Mackenzie has cabled to tho Primo Minister:—"Official: Tho price of flnx has'boon raised in London. Good fair is quoted at £99, high £97, low £96." «» ■ AMERICAN TRADE. GENERAL CONDITIONS. Messrs John Dunn, Son, and Co. (Now York) report as follows under date- December 5: — Transportation is again the most urgent problem facing the country. The railroads Jiavo apparently reached tho limit of their capacity, operating , as separate systems, and an effort is now being- made to induce tho Government to allow all of the railroads in the eastern part of the United States to operate as a unit under one board of control. This seems in a. fair way of accomplishment, and it is hoped that under this plan absoluto necessities and war freight can bo moved without altogether preventing the handling of ordinary goods. At the moment tho congestion is so serious that it is impossible to get permits to move anything for export apart from Governmontownod goods; and this coming only a few weeks beforo severe weather may bo expected: makes tho outlook far from satisfactory.

Tho supply and distribution of coal is causing much concern, and some parts of tho country aro badly in need of fuel. The difficulty is largely one of transportation and' groat effort is being made to get the situation in hand beforo winter sets in.

Increasing Government regulation in every direction is 'the order of the day. Imports are now restricted and many articles, including wool, cannot bo imported, except under license. This has been dono not so much to reduce the foreign purchases of the country, as to mako it possible to control the operations of certain German firms in neutral territory and to furnish matter for negotiation with neutral governments that aro disposed to dispute trade regulations. More stringent control of enemy aliens has been found necessary, and it is probablo that in tho end identification cards for everyone will bo used. Tho launching is announced of the first wooden ship built to Government specifications, but hor completion is somo months off. The shipbuilding programme, particularly that for steel ships, is being delayed by the difficulty in securing machine tools and other shop equipment. There is great activity, but creating a largo number of new plants for ship construction is an undertaking of such magnitude that even tho preliminaries aro not yet over in many cases.

The stock market has been fairly steady during tho past month, but prices have eased off somewhat, although measures have been taken to discourage short selling. The halting of tho German advance on tho Italian front and the) magnificent victory of Haig near Cambrai has been fully offset, so far as sentiment goes, by the very discouraging news from Russia and the publication of Landowne's letter. This letter seems most unfortunate at this time, and has caused a very uneasy feeling in all financial markets.

Copper production which was checked for two or three months by labour difficulties is now almost normal again. Licenses for the export of brass and copper are being issued, and are coming through with little delay. The situation as to steamer tonnage for Australia is again difficult. An unusual number of steamers was cleared in November, but nothing is in sight for December clearance, only one steamer being reported, and she is understood to carry a cargo of oil for the- West Australian Government. Several sailers have been chartered, and it would appear probable that a considernblo percentage of the shipments to Australia will have to go forward by sail for the next few months at least. No change in steamer rates has been made since our last report. The rate on steel is still held firmly at .£lO 10s 6d. PROPERTY SALES. Messrs Tamblyn, M'Kcnzic, and Winton report having effected the following sales of city, suburban, and country properties recently:—Section 3, block 11, Upper Kaikorai district, also part section 8, block I, Kaikorai district, Cannington road, Maori Hill, with five-roomed residence; section 11, township of Macandrews; section 9, block I, Hawthorne avenue, Mornington, with six-roomed residence; allotment 151 and part 152 and 153, township of Scatoun, Portobcllo, with dwelling, cto.; part sections 10 and 11, Andrews' subdivision, Wingatui; section 2, Andrews' subdivision, Wingatui. with five-roomed house; section 3. Andrews' subdivision, Wingatui, with dwelling, etc.; section 6. block IV, Glen avenue, Morninprton, with four-roomed house; section 3. block IV, Glenroy, North-East A'alley. with frvo-roomed dwelling; section 54, and part 55, block XVIII, Musselburgh, with dwelling, etc.; on account of the executors, freehold farm of 183 acres, known y as Riverside Farm, Outram, together with live stork, implements, etc., as a going concern, to Mr C. 0. Anderson; also on account of Mr Galbraith, the lease, furniture, and effects of Somerset Private Hotel, Ashburton, to MrsPaterson.